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FEATURES FOR THE COMPLEX RATING ESTIMATION OF FINANCIAL POSITION IN MOBILE COMMUNICATION
ORGANIZATIONS
Olga I. Sharavova,
Moscow Technical University of Telecommunications and Informatics, Moscow, Russia, [email protected]
Maria P. Belyanchikova,
Moscow Technical University of Telecommunications and Informatics, Keywords: mo^e mmmum^thn,
Moscow, Russia, [email protected] complex rating assessment of financial position,
working capital.
The article justifies the appropriateness of applying a comprehensive rating evaluation of the financial situation of mobile communication organizations; The specifics of the financial analysis of mobile communication companies are examined, the necessity of consideration of the structural and cost impact on the features of mobile telecommunications services production and consumption on the values of majority of indicators of financial stability, solvency and liquidity, that should be taken into account when forming the composition and determining the reference level of the integrated rating indicator is proved. The rationale for the selection of index indicators included in the comprehensive rating is based on the fact that the system for assessing the current financial position of mobile operators uses special, distinct from those used in the financial analysis of economic entities of other sectors of the national economy of the Russian Federation, regulatory restrictions on financial indicators, depends on the value of current assets. When forming the benchmark level for the indicator of the complex rating evaluation it's necessary to consider the low values of the specific weight of circulating assets in the structure of financial resources of mobile communications companies, which differ significantly from the Russian enterprises of the material production industries.
For reliable and adequate assessment of the financial position it is necessary to include in the system of integrated rating of mobile organizations the index indicators that take into account the industrial specific features of the formation of financial resources: autonomy, maneuverability, working capital, own assets, current liquidity, return on capital. Since for most index indicators, the minimum permissible levels are determined by the financial analysis methodology of infocommunication companies in the form of normative constraints that are unidirectional, and for the return on assets indicator the higher values reflect the better level and since all indicators are relative, then in order to obtain a comprehensive rating of mobile organizations it is advisable to apply a modification of the rating formula, which presents the square root of the sum of squares of index indicators. The comprehensive rating evaluation in the context of the operators of the industry will make it possible to carry out a comparative rating assessment, the result of which will determine the mobile communication organization with the highest rating.
Information about authors:
Olga I. Sharavova, Candidate of Economic Sciences, Associate Professor, Moscow Technical University of Telecommunications and Informatics,
Moscow, Russia
Maria P. Belyanchikova, Postgraduate student, Moscow Technical University of Telecommunications and Informatics, Moscow, Russia
Для цитирования:
Шаравова О.И., Белянчикова М.П. Особенности проведения комплексной рейтинговой оценки финансового положения организаций подвижной связи // T-Comm: Телекоммуникации и транспорт. 2017. Том 11. №5. С. 74-76.
For citation:
Sharavova O.I., Belyanchikova M.P. (2017). Features for the complex rating estimation of financial position in mobile communication organizations. T-Comm, vol. 11, no.5, рр. 74-76.
Conduction of tlie analysis and diagnostics of the financial condition of mobile communication companies, accessibility and quality of providing services that are related to the general conditions without which the normal functioning of production and circulation of goods and the vital activity of people are impossible, represents the comprehensive assessment of the state and nsege of financial resources, study of the sources of their coverage, financial results of activities, forecast of the prospective financial situation and includes analysis of the property of the mobile communication operator and sources of its formation, assessment of the financial situation, calculation of financial ratios, liquidity of the balance sheet, profitability, efficiency, business activity indicators, forecast of certain financial indicators values, assessment of the possible solvency and prospective financial stability, and study of the operational leverage [1,2, 7J.
Specific features of finance and the specific structure of assets and liabilities of mobile communications organizations, the immaterial nature of the product and the provision of services to all sectors of the economy and the population determine the spccial composition, state, movement and process of usage of financial resources, different from other industries [3].
Complex rating assessment that allows to give a final comprehensive characteristic of the financial situation of the mobile communications operator should be the most important final stage of analysis and diagnosis of the financial condition of mobile companies, the results of which will allow to determine unambiguously whether the financial resources of the company are used effectively, whether it posses financial stability and what is its position among the group of mobile operators studied. Thus, the indicator of a comprehensive rating assessment of a mobile communications organization is a characteristic of the efficiency of its financial and economic activities, allowing to conduct a comparative industry assessment.
The complex rating evaluation should be based on the public reporting data, so that intermediate results of the evaluation for each indicator of the rating system, whose level rellects the direct impact on the financial situation of the organization under certain conditions, are accessible, understandable and transparent to different users of the final results received.
Since it is reasonable to conduct a comprehensive rating assessment on the basis of public reporting data, index indicators of financial position w ill be momentous, which fully corresponds to the nature of the accounting reporting thai provides the initial data for such an assessment
The rationale for the selection of index indicators included in the comprehensive rating assessment should take into account the fact that the system for current financial situation of mobile operators assessment uses special, different from those used in the financial analysis of economic entities of other sectors of the national economy of our country, regulatory restrictions of financial indicators, values of which directly depend 011 the value of current assets [3].
Specific methods of management, the principles of state regulation and economic relations in the market of serv ices, as well as the feature of the mobile communication product - services, the specificity of production resources, technologies and organization of information transmission and consumption processes, the network nature of serv ices production - production and economic factors that predetermine not only the peculiarity of the action of economic laws in the mobile communications sector,
but also the peculiarities of the state and usage of its production resources, are determined by the infrastructure! role that mobile communication performs in the economy of the country [2].
It is proved that the above-lis ted factors that characterize the specifics of the formation and usage of financial resources of Russian mobile operators have a structural-value impact on the values of most indicators of financial stability, solvency and liquidity [5]. Thus, it is necessary to take into account that the share of current assets in the structure of financial resources of the largest mobile operators (PJSC VimpelCora, RISC MTS, PJSC MegaFon) is estimated at 7-23%, unlike Russian enterprises of productive industries that have working capital with a specific weight of at least 40% of assets [3,4].
Consequently, for the most reliable and adequate assessment of the financial situation prevailing in a given company index indicators that take into account industry specific features of the formation of financial resources, such as Equity Ratio, Current Assets to Equity Ratio, Working Capital Ratio, Production Property Ratio, Coverage Ratio, ROC (or ROA), should be included in the system of integrated rating of mobile communications organizations. Since for most of these indicators, with the exception of the return on assets ratio, the minimum permissible levels are determined by the financial analysis methodology of info-communication companies 11, 4] in the form of regulatory constraints that are unidirectional, and for the return on assets index, the higher values reflect the better level, and all indicators are relative, then to obtain a comprehensive rating of mobile organizations it is reasonable to apply a modification of rating evaluation formula, which represents the square root of the sum of the squares of the above-mentioned index indicators [6].
Calculation of complex rating indicators for various types of sector operators allows obtaining a comparative estimated rating, resulting in the determination of the mobile communications organization with the highest rating. In addition, it is necessary to determine the benchmark level of the integrated rating assessment, based 011 the regulatory constraints on the financial ratios and sheet balance liquidity ratios, which constitute the system of index indicators, as well as the permissible level of return on assets.
References
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2. Kuzovkova T.A„ Salvutina T.Y., Sharavova Q.I. (2015). Statistics ofinfocommunications. Moscow: Hot line - Telecom. 554 p.
3. Kuzovkova T.A., Sharavova 0.1. (2014). Features of financial resources of in loco 111 muni cat ion organizations. International Scientific and Research Journal, No. 10-3 (29), pp. 34-36.
4. Sharavova O.l. (2015). Methodological features for consideration of financial regulations of infocommunication companies {DOl 10,18454 / IRJ.2015.41.176). International Scientific and Research Journal. No. 10(41), Part I, pp. 84-85.
5. Sharavova 0,1. (20!6), Ensuring financial sustainability and sus-tainability of organizations in the field of ICT on the basis of perspective evaluation. The collection of materials XXIX the Congress «Safety and quality in the field of ICT», pp. 82-86.
6. She re met A.D., Satfulin R.S. (1997). Finance of enterprises. Moscow: INFRA-M. 343 p.
7. Sharavova O.l., Belyanchikova M,P.(2016). Forecasting the financial position of mobile organizations, Internationa! Scientific and Research Journal, No. 3-1 (45), Part 1, pp. 79-80.
T-Comm Vol.11. #5-2017
СВЯЗЬ
ОСОБЕННОСТИ ПРОВЕДЕНИЯ КОМПЛЕКСНОЙ РЕЙТИНГОВОЙ ОЦЕНКИ ФИНАНСОВОГО
ПОЛОЖЕНИЯ ОРГАНИЗАЦИЙ ПОДВИЖНОЙ СВЯЗИ
Шаравова Ольга Ивановна, Московский технический университет связи и информатики, Москва, Россия,
Белянчикова Мария Павловна, Московский технический университет связи и информатики, Москва, Россия,
Дннотация
Обоснована целесообразность применения комплексной рейтинговой оценки финансового положения организаций подвижной связи; рассматриваются особенности проведения финансового анализа компаний подвижной связи, доказана необходимость учета структурно-стоимостного влияния особенностей производства и потребления услуг подвижной связи на значения большинства показателей финансовой устойчивости, платежеспособности и ликвидности, которую следует учитывать при формировании состава и определении эталонного уровня показателя комплексной рейтинговой оценки. Обоснование выбора показателей индикаторов, включенных в комплексную рейтинговую оценку основано на том, что в системе оценки текущего финансового положения операторов подвижной связи используются специальные, отличные от применяемых в финансовом анализе хозяйствующих субъектов других отраслей национальной экономики России, нормативные ограничения финансовых показателей, величины которых напрямую зависят от стоимости оборотных средств. При формировании эталонного уровня показателя комплексной рейтинговой оценки следует учитывать низкие значения удельного веса оборотных средств в структуре финансовых ресурсов операторов подвижной связи, значительно отличающиеся от российских предприятий отраслей материального производства. В систему комплексной рейтинговой оценки организаций подвижной связи для достоверной и адекватной оценки финансовой ситуации следует включить показатели индикаторы, учитывающие отраслевые особенности формирования финансовых ресурсов: коэффициенты автономии, маневренности, обеспеченности оборотных средств собственными источниками, имущества производственного назначения, покрытия (текущей ликвидности), рентабельность всего капитала. Поскольку для большинства показателей-индикаторов минимально допустимые уровни определены методикой финансового анализа инфокоммуникационных компаний в виде нормативных ограничений, имеющих однонаправленный характер, а для показателя рентабельности активов более высокие значений отражают лучший уровень, и все показатели являются относительными, то для получения комплексной рейтинговой оценки организаций подвижной связи целесообразно применить модификацию формулы рейтинговой оценки, представляющую собой квадратный корень из суммы квадратов показателей-индикаторов. Проведение комплексной рейтинговой оценки в разрезе операторов отрасли позволит осуществить сравнительную рейтинговую оценку, результатом которой будет определение организации подвижной связи с наивысшим рейтингом.
Ключевые слова: подвижная связь, комплексная рейтинговая оценка финансового состояния, оборотные средства. Литература
1. Кузовкова Т.А., Накозин Р.Н., Шаравова О.И. Совершенствование инструментария анализа и планирования использования оборотных средств организаций электросвязи. М.: Компания Спутник +, 2006. 132 с.
2. Кузовкова Т.А., Салютина Т.Ю., Шаравова О.И. Статистика инфокоммуникаций. Учебник для вузов / Под ред. Т.А. Кузовковой. М.: Горячая линия - Телеком, 2015. 554 с.
3. Кузовкова Т.А., Шаравова О.И. Особенности финансовых ресурсов организаций инфокоммуникаций. // Международный научно-исследовательский журнал. 2014. № 10-3 (29). С. 34-36.
4. Шаравова О.И. Методологические особенности диагностики финансового положения инфокоммуникационных компаний (DOI I0.I8454/IRJ.20I5.4I.I76). // Международный научно-исследовательский журнал. 2015. №10 (41). Часть 1. С. 84-85.
5. Шаравова О.И. Обеспечение финансовой стабильности и устойчивости организаций в сфере ИКТ на основе перспективной оценки // Сборник материалов ХХ1Х Конгресса "Безопасность и качество в сфере ИКТ". 20I6. С. 82-86.
6. Шеремет А.Д., Сайфулин Р.С. Финансы предприятий. М.: ИНФРА-М, I997. 343 с.
7. Sharavova O.I., Belyanchikova M.P. Forecasting financial position of mobile communications organizations // Международный научно-исследова-тельский журнал. 20I6. №3-I (45). Часть I. С. 79-80.
Информация об авторах:
Шаравова Ольга Ивановна, к.э.н., доцент, Московский технический университет связи и информатики, Москва, Россия Белянчикова Мария Павловна, аспирант, Московский технический университет связи и информатики, Москва, Россия
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